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for his domestic initiative while also strengthening the deficit. >> host: dan, republican caller. >> caller: i was just listening earlier to a caller talking about the epa, and they talked about bill companies getting all these breaks. based on what i've read and found out on the internet is a pay $60 million a day in places, in taxes. and how you going to pay that if you shut down the oil companies and the guy that's supplying the energy for the united states? >> host: where did you read they pay for leasing of the land and taxes? >> caller: that's just on the internet. >> host: zachary goldfarb, the oil companies and gas company to pay taxes and they do have to pay the federal government to lease these lands. >> guest: that's right. the reason the government thinks is there is its multiple. first, the government belief these are public lands in many cases and some some of the benefits of that oil and gas should spread the people in those committees and around the country and not just into the pockets of the company. secondly, there is enforcement, environmental regulations in t
for me. >> since president has been in office we have reached the point where cutting the annual deficit in half to reduce the overall debt of united states by $3 trillion over the next 10 years. neil: i heard that it stuck with me i immediately said he just out to an allied made ising the debt is coming down it will shrink $3 trillion over the next 10 years? it is what. what will happen is it will grow $3 trillion less than rethought. that is a big difference. said debt will grow at 21. 3 trillion that is not the but the cbo. it is not the $3 trillion decrease but $8 trillion increase may be sheikh factors in those savings but so far that does not mean fear is less red ink. but with washington less than we feared so no need to fear. not so fast. it is a twisted way that the senator says we're making progress. because if you define progress then you must be forgetting you are digging a hole consists of a. it is time for the wake-up call the debt is getting bigger. that is like me saying i m projected to gain 50 pounds over the next decade but i am only gaining four days so i lost 10 poun
convince the american people it would be different this time. >> i will. the worst budget deficit under george bush happened in his last term in office. that's when nancy pelosi was speaker of the house. budget ra $450 billion. president obama blew through those deficits. he had in excess of trillion dollar deficits year after year. what the republicans were able to do in the house is not continue that level of trajectory. has spending gone up? it absolutely has. but the level has slowed down and -- >> i get the feeling, congresswoman, maybe not you in particular, a lot of your party are giving up the fight and keeping the powder dry and hoping at the end of the year pick up more seats in the house and maybe take the senate and you bet you that will be the time when republicans get serious. but is that a lot to hang your hat on? >> well, what we need to hang our hat on is boosting the labor force participation rate. we're at the lowest level ever for anyone over age 16 actually having a job in the labor force and in a full-time capacity. that has to change. and unfortunately the preside
deficit has been cut in half. it allows us to meet our obligations to future generations. from the heard president, deficit picture is looking better. much so that levels will be below where they were before the budget crisis. >> how do republicans react to away from the emphasis on deficit reduction act out >? >> john baeder came out and said that this was the most irresponsible budget yet of the obama has proposed. the president laster put out an all french to republicans and said he was willing to make changes to social security, medicare and other entitlement programs. those are all gone this year. for republicans to look at these budgets in the lines of what the established last year in terms of topline numbers under the agreement, this budget is something that will not move in the house of republicans. are viewed asts more of political documents as opposed to policy proposals. >> that really is right. especially this year. yep midterms coming up in november. the white house wanted to lay out policy priorities going forward to follow through on over the next eight months. the presid
speaker john boehner, and if you look at the deficit, it's been cut by more than half in 2009, the fastest deficit decline over a sustained period since world war ii, so would you acknowledge some progress is being made? >> yeah, i think it's a great point. if you look at the numbers, looks like quite a bit of progress has been made and the deficit has come down very quickly. that, of course, comes after a large rampup in the deficit where it grew by 800% before those four years, and i think more troubling is if you look at the nation's debt, where our debt levels are twice as large as they've been historically and are at historic highs and that's where the trouble is. while we've done a lot of deficit reduction, we've done it in the wrong way. we've focused on, i think, inadvertently through congress not being able to pick our policies on short-term measures that came out of the budget, which isn't where the problem is. what we should be doing is trying to replace those savings that came from the sequester that aren't as useful or long-term with more permanent and structural changes to en
issue right now, deficit, debt, from the ministrations point of view, it is not something are focusing on right now. >> take you for setting the scene. -- thank you for setting the scene. york, our guest host, we have the chart of earlier. it is a massive victory lap. can we get back to a surplus? can we get back to that surplus? >> that is certainly not on the near-term horizon. what is important to note, three years ago the deficit was 10% of tdp and this year, 3%. it wasn't pretty. it didn't look like the civics textbooks, but we have a lot of deficit reduction. we had the ryan murphy agreement. it basically takes fiscal policy off the table for the next two years. barring a dramatic or election outcome in november, the administration will be status quo for 2017. >> are you willing to say austerity in the u.s. worked while austerity in europe did not work question mark -- work? able to register economic growth. it has been sluggish. europe has not been able to pull it off and a big impact of the fed he been the economy supported. >> the former fed governor, wonderful textbook, i don
with opportunity for all americans. at a time when the deficit is cut in half this allows us to meet our obligations to future generations without leaving them a mountain of debt. to the balance in congress but it also builds up on that progress with what we are calling an opportunity, growth and security initiative, that invests in our economic priorities in a smart way that is paid for with smart spending cuts and closing tax loopholes that right now only benefit the well-off and the well-connected. i will give you an example. right now the tax system provides benefits to wealthy individuals who save after they have amassed multimillion dollar retirement accounts. by closing that loophole we can help create jobs and grow the economy, and expand opportunity without adding a dime to the deficit. we know that the country that wins the race for new technologies will win new jobs so this creates 45 high-tech manufacturing hubs where universities and businesses will work for groundbreaking technology for new jobs in america. part of the reason we're here today is because education has to sta
when our deficit's been cut in half, it allows us to meet our obligations to future generations without leaving them a mountain of debt. >> woodruff: the 2015 deficit would decline, to $560 billion, but republicans today said the red ink, spending hikes and tax increases mean the plan is dead on arrival. senate minority leader mitch mcconnell. >> rather than put together a constructive blueprint the two parties could use as a jumping off point, to get our economy moving and our fiscal house in order, the president has once again opted for the political stunt for a budget that's more about firing up the base in an election year than about solving the nation's biggest and most persistent long-term challenges >> woodruff: congressman paul ryan, the house budget chair, likewise called the obama plan a disappointment. in a statement, he said: >> woodruff: ryan offered an extensive critique yesterday of federal anti-poverty efforts. he's expected to release a republican budget proposal in the coming weeks. >> woodruff: some of the more notable pieces of the president's proposal, and expected
that there are lots of issues that are important. let's start wwth the debt. let's start with the incredible deficit and the size of government. >> we have a tax problem and a spending problem. and it basically came to a grounding all. lou: what are you going to do about lois lerner? dirty have the attorney general in contempt. what are you going to do a former senior irs official? he's basically told you guys to buzz off. i have a bill, hr 1950 that criminalizes this action. lou: retroactively? >> the question is what are you going to do about lois lerner who has told you guys to buzz off. >> we are going to make certain that there are two aspects of the story are told. hold people accountable and find out who did this. and you move forward with the legislation that holds people accountable if it haapens again. and i think the american people are shocked at what has occurred at the irs that the administration is doing nothing and we are going to work diligently to hold these people accountable to make sure this doesn't happen again. lou: no one is a bbgger fan of darrell issa than i am. and i think
with the incredible deficit and the size of government. >> we have a tax problem and a spendi problem. and it basically came to a grounding al. lou: what are you going to do about lois lerr? dirty have the attorney general in contempt. what are you going to do a former senior irs offcial? he's basically told you guys to buzz off. i have a bill, hrr 1950 that iminalizes this action. lou: retroactively? >> the questio is what are you going to do about lois lerner who has told you guys to buzz off. >> we are going to make certain that there are two aspects of the story are told. hold people accountable and find out who did this. and you move forward with the legislation that holds people accountable if it haapens again. and i think the american people are shocked at what has occurred at the irs that the administration is doing nothing and we are going to work diligentlto hold these people accountable to make re this doesn't happen again. lou: no one is a bbgger fan of darrell issa than i am. and i think you know that. you and your committee have done brilliant work. i do think that you r
on a severe deficit. the storm brought heavy surf, including a huge wave that crashed into a restaurant in santa barbara yesterday morning. to the south, residents were cleaning up today from flooding and mudflows in the los angeles area. that dropped anywhere from a couple of ifnches to almost a foot of rain on the state. >>> when "nbc nightly news" continues on this sunday, was it murder, or was it an accident? the trial of former olympian oscar pistorius gets under way in south africa. >>> and later, a royal road trip. the first for britain's newest little prince. >>> he is one of his country's greatest athletes, a symbol of triumph over adversity that carried oscar pistorius with his artificial legs all the way to the olympics two summers ago, representing south africa. but tomorrow he faces what perhaps will be his greatest challenge as he goes on trial, charged with murdering his girlfriend. our report tonight from nbc's ayman mohyeldin in pretoria. >> reporter: it's being called south africa's atrial of the century. a star athlete who defied the odds to become the first runner to
of rain to catch up to the normal level for this point in the season. so it's a severe rainfall deficit still. again, these steady and frequent rains are helping. >> all right. the drought is not over. >> no. far from over. >> okay. thanks, very much. >>> still to come on abc 7 nudes at 9:00, an initial sight for skiers today. the details behind the slope-side rescue of a small bear cub. >>> and a look behind the iconic work of a rock and roll photographer. what he says is the secret behind his legendary shots. attention monster taco fans! get ready for a night of monster taco madness - when two new monster taco flavors from jack in the box face off. introducing - the bacon ranch monster taco, crushin' it with strips of bacon and creamy ranch versus the nacho monster taco, comin' hard with nacho cheese and jalapeños! monster, monster, monster tacos! too much? needs an explosion. [boy] mom!ughs] [mom] yes? [boy] whoa,whoa,whoa... [mom and dad] [laughing] [boy] whoa,whoa,whoa... [mom] you've got two left feet,boo. >>> the fortunate ones among white house find their bliss and turn it into
, don't be my friend. >> easily defensible. >> another stimulus plan. more debt, higher deficits, rob our children blind and you're all in support of it? >> it's not that i'm in support of it let's talk about what it really is. the numbers already been decided. that was the whole partisan thing that happened a few months ago, what we're going to quick et over is how that money's going to be divided. >> we're going to gut defense. >> you may have heard that it's an election year. is it at all possible that this is an election budget that every one of us knows is never going through? >> we're going to rob our children? >> no, we're not. >> it's not going to happen. >> you know it's not going to happen. >> it's an election year. fudge it. >> i concede the point counselor. >> good night, folks. >> i concede that point, it's not going to happen, the fact that he wants it. didn't we learn? sl. >> he doesn't want it, congress wants it. >> everyone in congress has to run in november, it's a democratic budget p. >> why do they waste our time in. >> that's how politics works. you don't think th
he is recommending for each show agency and the deficit projections for 10 years. they say it will be low work, but how to make at work. obama will not be including the chain cpi proposal. inflation is measured that would have the effect of lowering social security benefits and other federal benefits. the aarp andsed by liberals in congress. arguing itthat out, was a all a branch for republicans. not willing to do a big deal on the deficit in order to get things under control. by taking that out, they will lose 230 billion or so in deficit reduction. already we know one of the ways will be assuming the senate passes and immigration overall. go much does that cost you these are the kinds of things we will be looking for. perhaps the least effective budgets we have seen in years because congress are it has a toplines appropriations number for this year. they are are ready holding hearings. this is entitlement overhaul out of the midterm. how is the budget actually released today, and to are the surrogates that the white house is sending to capitol hill over the next coming da
of people felt was ungovernable, chiefly because of the budget deficit and now there's a surplus. is there a national leadership lesson that california provide? >> you've got to be tough on spending. at the end of the day, fiscal discipline is the fundamental predicate of a free society. and you just have to maintain that. secondly, you do have to find a way to create a governing consensus or coalition. in california, we do have a majority democratic party. and we don't have the any constitutional blocking points like the 60-vote requirement in the senate or the division of parties in the house between the house and the senate. >> it is interesting, is there a lesson for president obama no matter how liberal you are, you said, here the president's about to present a budget where he's saying look, the deficits are coming down for now. we've got to spend more. we're only going to get the economy going in a meaningful way if we spend more on infrastructure and the loo i can. >> yeah, spend more but in the framework of adjusting your long-term liabilities so we're in balance. so that
not do nearly enough to tackle the entitlement program. thepoint has been made deficit has come down so much in the short term, and that is true but there was a fiscal problem facing the country. the real problem is the medium and long-term debt. the real problem is dealing with health care, aging population and health reforms. -- let mee ask about ask about the private deck with a tax break the industry has gotten for years. it sounds like both sides ones that do go away. does that mean it will? not think so. far from obvious that both sides want it to go away. speaking fellow republicans. many walked away from that as soon as it came out. carried interest belongs as part of a broader tax reform, but none actually tax it correctly. it withet serious about something with integrity it is just convenient, and that is no way to do tax policy. real,ld do some meaningful tax reform. really hurt his base if he takes on entitlement reform in a way that means cutting entitlements in the future. >> can i say something about that? >> was that my? -- mya? hurting his about base might be true polit
. at a time when our deficits are falling at the fastest rate in 60 years we have to decide if we're going to keep squeezing the middle class or reduce deficits responsibly while taking steps to grow the middle class. >> that was president obama outlining his $4 trillion budget for 2015 setting the stage for another budget fight. it calls for growing are the tax expansion. the president says he's paying for all of this by closing loopholes, one of which is wall street's favorite loophole which allows hedge fund managers to count their investments as income instead of capital gains. many think it faces a long road because of republicans in the house. to walk us through the budget battle, jimmy williams, an opinion writer for u.s. news.com and an msnbc contributor. how are you? >> how are you, hello. >> i want to start with one of the more important things which is that child care tax credit. this is big for people. when you look at the numbers from the white house, you're talking about well over 1.5 million people effected, $600 for a lot of folks with children under five years old. my view
not a wit of care to the working and unemployed. they talk about obsessions with deficits and debt. and then they refuse to raise revenue in any form or fashion. >> advertisement reform with the chained cpi last year. they don't back him when he is trying to do what they say they want to do. >> they predicate their position on ignorance. and nobody actually calling them out. i mean, the sound that you played at the beginning of this segment, that's the -- that's all you need to know about the republican party. on the one hand, on the other hand. and in the meantime, if you ever ask them for a meaningful piece of policy, of governable policy, they have nothing. >> you know the guy's running around a big arena, trying to get to the farthest right. well, they always want to be the hardest rail to the right. take a look at lindsey graham here, who seems oftentimes a reasonable guy, but he is so scared of looking reasonable because it will get him killed in south carolina. on twitter he wrote today, isn't it original? it started with benghazi. when you kill americans and nobody pays a p
happen to like, is going anywhere. >> what do you like about it? >> the deficit is going down considerably. >> is that from fiscal reform or from the economy growing? >> i think it is both. the sequester, which i did not happen to think is an intelligent approach, has been effective. have beenwe increasing revenue because of the economic recovery and the composition of the recovery. those two things and some others have resulted in the deficit coming down considerably. it is projected at 3.1% of gdp. it is way down. it was over 9%. we should step back and recognize that is good progress. you could debate who is responsible, but it is good progress. second, some of the initiatives, let's just take infrastructure, are so vitally needed. both sides agree, it is just how to pay for it. it is not going anywhere. senator johnson is right. it is an election year. this budget will just sit there and not be acted on. >> senator, you are saying it does not address the big issues, which you mentioned, entitlement spending. there were no big numbers around cutting social security or any o
a real deficit. he let putin bring him down the garden path on syria, a country that was supposed to have given up all its kemic am weapons by february but has only given up 11% of them. what accountability have we heard demanded by the president. whether it's ukraine, china, syria, where wherever we see him, he just doesn't have what it takes to be taken seriously by foreign leaders. >> is he credible? what do you think? >> i think he's more than credible. for example, if you go back and look at 208 when russia went into georgia, we did nothing. that was at the height of our involvement in iraq and afghanistan. he's got the international community to put sanctions. these aren't going to be the treasury. these have to be international sanctions. nobody, even the harshest critic, wants to put boots on the ground. >> let me give you an example of why i think the credibility thing is a little bit tricky. look at what the president said at one point today. it's remarkable. >> one thing right away is to work with the administration to help buy assistance to the ukrainians to the people and tha
deficit disorder,
as president. >> the main problem is the fiscal deficit, representing 4% of g.d.p. the government will have to reduce subsidies, resulting in an increase of drifty and transportation costs. cristina fernandez de kirchner's next move will be to convince trade unions to ask for modest wage increases whon others are sharpening their lives for the elections. >> now to the top story in ukraine and the crisis in crimea. we are able to talk to srca markov, a -- srca mark of, a split scientist and member of the russian parliament. some in the west are accusing russia of overreacting. how do you respond? >> i said the west underreacted in what happened in ukraine. in ukraine you can see the military - they are democratically elected ukrainian president yank are a are -- viktor yanukovych, and they are not able to do it. mostly in the government is someone hated bit the majority of ukrainian people. now you see a revolution in the eastern and regions of ukraine. those regions want to be part of ukraine. they don't recognise who took power in kiev. if russian troops intr the territory. they do it to s
house can work together to improve the bottom loin when it comes to deficits and spending and taxes and cutting? well, i've read that senator patti murray said the senate will not produce a budget in response to the president's proposal. .i've read that the president's budget is going to largely ignore some of the common ground to fix entitlement programs and the like and be more of a gain document that he and his fellow democrats can run on in november. that's a terrible disservice. this country continues to spend a lot more money than we're bringing in the door. debt continues to rack up. medicare and social security continue to be on an unsustainable path. and the president, the person who is supposed to be in charge of the executive branch of government continues to campaign. but he's not going to be on the battle again. so to say it's a disappointment is a profound understatement. >> all right. senator john cornyn, sir, thank you for your time today. >> thanks, shannon. >>> the situation in ukraine developing minutes by minutes. russian soldiers we're told are now surrounding a
in somebody's life, it shows up there. >> yes, what we can see is there is a deficit in theiar in the ae middle frontal cortex of kids who have ptsd. >> brown: in the developing brain of a child, ptsd can discourage learning. >> so the issue we have with chronic stress, it manifests as a ptsd syndrome or disorder is that some of the areas that are affected are areas that we need for our learning. for example, brain centers that process memory, brain centers that process executive function are particularly vulnerable. so ptsd can have an effect in how children learn brown. >> brown: according to carrion, up to 30% of children who live in low-income, high poverty neighborhoods will show symptoms of p.t.s.d. for every child in our school who acts out, i can look to something in their life that's not working. every single time there's a concrete and sad story about why this child doesn't get what they need. >> bring your arms up, put your left leg around your knee. >> brown: by teaching children to pay close attention to breathing and movements, the medical student hopes they're better prepa
when our deficit has been cut in half, it laos us to meet our obligation to future generations without leaving them a mountain of debt. >> budget also did he vote money for highways and roadways. >> republicans have a different view on spending priorities and debt. what are they saying? >> john boehner calling it perhaps the president's most irresponsible budget ever. paul ryan says it isn't a serious document, it is a campaign brochure. ryan is working on a budget of his own which is expected to take a look at poverty programs noting some work, others don't. as for the president's blueprint, the top republican on the senate budget committee blasted it. >> this budget will not work. it's bad for america. it does not get us off the debt course we're on. it has total flimflam in it, it projects we're going to raise another 1.75 trillion. the last two budgets proposed an increase of a trillion dollars in taxes. this would almost tunnel the amount of tax increase. >> republicans say the president's plan spends, borrows, and taxes too much, gretchen. >> thanks. >>> fox news alert, health an
spending and not deficit reduction. the top republican on the senate budget committee says he wants to know when the president is going to get serious. >> this budget will not work. it's bad for america. it does not get us off the debt course we're on. it has total flimflam in it. in that it projects that we're going to raise taxes another $1.75 trillion. >> house budget chairman paul ryan said the president's budget is not a serious document. it is a campaign brochure. and aides say the soon to be le balance. >> mike emanuel live on the hill, thank you. >>> still ahead, what is the ukraine crisis doing to the u.s. space program. >>> first, the primary season kicks off in texas. it's eb. want to give your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better nutrition... easy. eggland's best eggs. better taste. better nutrition. better eggs. it's eb. better eggs. your hepatitis c.forget it's slow moving, you tell yourself. i have
about saving money all the time and being concerned with deficits and being totally driven by that but not being concerned in saving money when people are in jail for marijuana and mandatory minimums that judges have said were awful and for nonviolent first time offenders serving lifetime sentences in jail costing us $30,000 a year. >> comcast is running this ad in new jersey where medical marijuana is legal. >> yo, you want sushi? i got sushi. i got tuna, salmon, sweet shrimp. i got the finest this area has seen in years. >> you wouldn't buy your sushi from this guy so why would you buy your marijuana from him? >> did i mention that it's national pancake day. marijuana, pancakes, sushi. >>> benjamin netanyahu stirred up controversial and joining me to talk, comedian and "daily beast" columnist and friend of the show, dean ovadala. let's start with pot. marijuana has been huge this year and the pot jokes are a gold mine, i'm sure, for your profession as a political comedian. >> on some level it is but i think we've jumped the shark on pot. when pat robertson came out in fro
's ever proposed for, not for reducing deficit but more domestic spending. we've had huge spending increases, so those are such nonstarters, i don't see how you get common ground. granted, we're living under another budget agreement for now. but it's clear he's moving farther to the left to try and -- for those reasons and he's not trying to move to the middle. >> congressman, you said that three times, he's moved to the left, it's a nonstarter. does that mean i can't ask you about closing loopholes or -- >> yeah, sure, go ahead. >> are there any ways in which you all could maybe come to something and end up with one or two or three of these things and get some of the things that you want? >> yeah, so we just -- our chairman of the ways and means committee, dave camp, put out a specific discussion draft of tax reform, which does just that. it closes loopholes. instead of using the money for spending which increases the deficit -- he has $1.8 trillion in tax increases, half goes for spending. we're saying take the loophole closures and use it to lower tax rates to grow the economy.
loss since the bailout in 2008. 15 billion-dollar deficit for last year. he calls rbs the industry's least trusted leader, does the ceo. >> the bank. the largest bailout in europe. still owns the vast majority of the bank and is still pulling the strings. >> by the way, wire pros playing in the olympics? >> that is what the nhl is asking -- the players love it. >> the players love it and flagwavers love it, i am not fair -- sure it is fair to college athletes. >> we need to go to the ukraine. we spoke with the new leadership to read good morning. >> good morning. his name is arseniy yatsenyuk, the prime minister designate. inis about it -- to be voted as the interim prime minister of the country for the next few months. parliament is still chewing over this decision. >> how front and center is crimea to the management in kiev? >> very front and center. i was standing in the parliament here in kiev. meanwhile, in the crimea, the parliament had just been seized by a group of about 100 gunmen. i asked the prime minister about that and he said it is the first crisis he has to deal with
the chronic deficits in the national flood insurance program. they are sort of undoing their work to provide some relief. on the energy bill, the house is going to be taking up among other things a measure that would restrict the epa's restriction of carbon emissions by coal powered power plants. this is a big change in utilities. it would require any epa carbon solution limits to be based on existing technology. it is going to be a theme this week. there'll be several energy bills, just like there was a theme this last week about .xcessive regulation >> atrial bettelheim with cq roll call, we think you for your look ahead. as always, sir, thanks for your time. >> my pleasure. thanks. told both ase students and as a nation in terms of popular imagination is that there are all kinds of citizens and marches and demonstrations that occur. but they are really done by these famous, iconic people. basically, rosa parks, who was just so tired that she refused to get up from the bus in montgomery, alabama, and sparked a bus boycott, and basically, a young preacher, who even the president referred to
attention deficit disorder and the like. >> thank you, twice. see you next week. >> and on media buzz with howard kurtz comes up next right here on fox news channel. have a great day. >> bye, everybody. >>> on the buzz beater this sunday, joe biden starts dropping hints about running for president no matter what hillary clinton does and gets a warm welcome from the media. >>> for vice president? say thank you. >> oh, i'd love that. >> but is there enough skepticism about biden? he will be 74 at election time and is it fair for pundit toes point out that hillary will turn 69 just before the election? stephen colbert makes fun of me for daring to raise the question. >> i know it's rude to talk about a woman's age, but that's not what i am doing. i am talking about people talking about other people talking about other people talking about a woman's age. that's called journalism. >> nice try, stephen. i'll respond to the libale by this comedian. >>> did he shoot himself in the foot? >>> plus, the latest on how the military is covering media showdown between russia and the ukraine. i'
term on trying to boost job growth. over the ten-year window you will see steadily declining deficits. at the end the period i think you'll see a declining debt-to-gdp ratio. that's the right trajectory. >> yesterday we had warren buffett on the program. he said he thinks the proposal would be to boost the earned income tax credit even more, expand that in a bigger way. that's a way to boost wages for people that are working without looking at job losses by raising the minimum wage. how about offering it to a wider variety of people and taking the minimum wage proposal off the table? >> these things are not mutually exclusive. there's no reason you can't work at both ends here. >> is it something you would offer if you did a broad -- not what you're talking about right now, but boosting the income tax credit in a big way, offering it across the aisle as a way of finding compromise, in instead of looking at one from another. i think that would be something republicans would take on heartily. >> we're willing to consider any ideas republicans put on the table. the president is putting t
and deficit and entitlement reform and all of those things. this president likes his government super sized. this budget will never balance. and i think the president wants taxpayers to pay more so that washington can spend more >> what i read is he is asking for million in new spending. does that go anywhere? >> i don't think it does. last time he had a budget, not even any of the democrats voted for it. his policies make it harder to get back to work. >> $17.4 trillion is the debt clock. that is ridiculous. in three years from now, you will be $19 trillion? how is that acceptable to anybody? trying balance a book in washington, d.c. >> what we will see is the fastest growing part of the budget is interest on the debt. the president added $6.9 trillion in the debt. this continues to be a driving issue for the country. you know, we are not going to be able to sustain the safety net with this debt and interest. >> i think the viewers get it, too. what other republican options do we have? >> the options are to say let's deal with the issues we know get people back to work. we have a health ca
a dime to the deficit. >> the president also wants to expand the earned income tax credit for the working poor without children. his budget would also expand the child and dependent care tax credit and create automatic iras to help workers save for retirement but it's unlikely those plans will get through congress. he needs legislation to enact all of that and that does not look likely. >>> global markets are rebounding today as investors digest the situation in ukraine. even the dow jones flew out of the gate this morning. alison kosik is over at the new york stock exchange. how much have we bounced back today? >> quite a bit. what a difference a day makes. even the s&p 500 at a record high. the dow up 200 points, 205 points. all 30 stocks in the dow are in the green. very different story yesterday. it was a sea of red. we also saw that turn-around happening overseas, all the way -- there were those down arrows we saw yesterday in europe, asia, russia, they all turned up today. analysts say investors today aren't on red alert. it's not such a dire situation. i think when putin spoke and
to the deficit. >> house budget chairman paul ryan already come out swinging against the plan. yet another disappointment and added the president has three years left in his administration and seems determined to do nothing about our fiscal challenges. that's paul ryan. this budget isn't a serious document he says. will this budget proposal help flagging republican opinion of president obama's track record. we turn now to financeer and former treasury official and cnbc economic analyst steve radener. thank you for being here. >> thanks for having me. >> i wanted to start out with your gut reactions to this. is it the expanded credit for low income workers? >> this is a policy statement of what he believes should happen in the budget, more spending on things like the earned income tax credit which is today's headline but also things like infrastructure and pressing needs. he wanted to put out what he believes in and indeed what the democrats believe in in advance of mid-term elections. >> you have a background in private equity yourself and roll with a crowd of people most affected by the c
a lot of money, in part, due to the sequester, and it's led to lowering and lowering the deficit. if you put that in the context of what the budget proposal suggests, it's only a modest increase in spend, talking about 56 billion, like you mentioned, split between defense, nondefense, and it's paid for. we established that the budget agreed to by patty murray and paul ryan, those spending levels stay in place, and you'll use a few other tax hike is to par for $56 billion to relieve s sequestrati sequestration. we have a piece coming up that shows nih will be funded at 30.2 billion. that, in real term money, equivalent to the level that george w. bush funded nih in 2002. we're not making people whole. we're lagging pretty badly. but as if you were to look at what republicans are saying, this is the most reckless spending possible. >> sam, on that note, the president say, our budge it is about choices, about values and this is expected to go nowhere, it's a moral document in the most sort of clear fashion from the white house. at the same time, you know, the president puts this out there a
lucky. numbers, 7 inches in san jose to 16.75 inches in santa rosa. deficit now. the rain today will hopefully keep that ddeficit from buildin not decrease it at all. l low to mid-50s. marrying everybody else except alameda. 57 degrees the warm spot right now. temperatures tomorrow that will be slightly cooler than today. this because of the cold front pushing through and a little wind shift. around 6 0 at the coast. 70, high clouds and sunshine around the bay and inland friday and saturday and low to mid-60s at the coast. more rain is on wait for the back half. weekend. that's coming up in your accuweather seven-day forecast. here's kristen and eric with more news. >>> and the bush dynasty. the win for one of the youngest members of america's best known political family. >>> first, more than 100,000 pieces of mail go up in flames right here in california. this morning, the advice the post office is giving to people who may have lost their letters and packages. >>> and caught on camera. an art thief tries to get eway wi away with a pricey painting but wasn't thinking about a qui
in the second half. the cowboys overcoming a deficit, shooting 64% from the field. the finals 72-65 osu. virginia continues to be one of the surprise teams. they beet syracuse outscoring the orange. celebrating an amazing season on senior day in charles otsville. the cavaliers had the first out right a.c.c. title in 33 years. the orange dropped three of their last four. >> on the links, tiger woods is trying to make noise after barely making the cut at the honda classic. woods beginning the third round it 11 shots behind rory mcilroy. china charged up the board, posting seven birdies. woods jumped 49 spots. seven behind the leader entering the final round. >> finally tempers flare in the english premier league. the manager, al-alan pardew ped butting david meyler. he wassest jected and -- he was ejected and finned $168,000. >> sydney's gay and lesbian community celebrated the mardi grass parade. more than 10,000 watched the spectacle. the australian navy band marched alongside secondly clad dancers. [ ♪ music ] >> crowds filled the streets of rio de janeiro for its mardi gras parties
. the white house has made the case that the president's/two deficit has been mitigated. 's slash toidents deficit has been mitigated. on the front page of "the washington post," the republican response. the budget from the republicans will focus on welfare reform. a 204yan will publish page critique, questioning the efficacy of dozens of initiatives and underscoring where republicans say consolidation or spending reductions are needed. democrats line. caller: my name is patrick. i want to talk about the guy that just called talking about the revolt that he wants people to revolt in america. this guy is sitting on his high somewhere,e suburbs eating snickers bars. we are not going to go there. ukraine is a part of russia. it has been a part of russia for the last couple hundred years. we all know that. america, the european union, they have no business in the affairs of russia and ukraine. america needs to clean up its own house before you can go overseas. those folks are fighting for independence. host: that as a last call. we continue on with our discretion about ukraine. josh rogin will
progress made. if we just take a year in review. so, a year in review, in terms of deficit reductions. when the budget came out last year, it was predicted $1.1 trillion. it was 680 in the end. about a $400 billion deficit reduction from 2012 to 2013. then, we have a situation where i think hopefully we've broken the fever on the issues of having conversations about default. >> money that's overseas. are there efforts to bring money overseas permanently back to the states? >> it depends on how one is talking about that. we want to create a system that is clear and that is helpful for our companies to know what they're doing, how they're doing. and not discourage investments from coming back and finances from coming back to the u.s. >> tell me about going from bettenville, arkansas, in the private sector, back to the government. >> walmart is an institution of execution. that is what it is certainly known for. and fortunate to spend time and to be there. coming back to the federal government, certainly, as you reflected, one has to work and work on both sides of the aisle. i go up and down t
in new tax. he cuts the military greatly in my opinion not for deficit reduction but for more domestic spending. it just shows the priorities have moved farther to the left and the point i'm trying to make here we have three years left of this administration and we have divided government. normally in a situation like that you would try to fine common ground, work forward common ground. he's moving away from that and tacked hard to the left. yes you could say that's because we're in an election year and that may be why. it's happening nevertheless. i don't know the reasons but he's moving to the left and it makes it hard to bridge to the gap. >> democrats will say they have tried to extend a hand and have not been reciprocated. >> we have a budget agreement. i want to see us build on that success. >> give me a preview of what the paul ryan budget will look like. in years past a lot of the saving have come from overhauling medicare and medicaid. are those proposals include in the paul ryan 2015 budget. >> those programs are going bankrupt and need to be restored, need to be solvent beli
about it first watching the television. there is a trust deficit here. when kerry asked if he trusted putin, he said, wolf, there is some value in putin and that's why you keep hearing from u.s. officials they are going to keep watching what russia does this weekend. we know they are watching closely from the air, from the ground to see if the troop movements amount to anything where they go into the country. >> reminds me sort of the worlds of ronald reagan's in the '80s, trust but verify. >> that's right. john kerry says verify, verify, and then verify. >> the situation is tense. jim sciutto, thank you very much. more on the rising tensions in the u.s. but just ahead, former chris christie aides contain new information about the bridscand and they are sparking new outrage. in fact, they depend on a unique set of nutrients. [ male announcer ] that's why there's ocuvite to help protect your eye health. as you age, your eyes can lose vital nutrients. ocuvite helps replenish key eye nutrients. ocuvite is a vitamin made just for your eyes from the eye care experts at bausch + lomb. ocuvi
, imbalances you have because of the current account deficits, you need to keep monitoring fiscal policy quite tight. you have to be a lot deeper into the upcoming fiscal year before you see contraction growth and that has to come on the back of implementation of projects, some of the economic reform issues that have been announced since may 2012. >> so i guess may is the key if we're looking for measures like this to be introduced. do you think that's going to be a turning point for the country? >> well, i think there's a few questions about will the government get enough of the mandate and therefore be able to, on the back of that, implement policies, but that remain toes be seen. so it might not be easy for some of the incumbent parties to necessarily muster the vote they need to have. but it's true, post elections, you know, in principal we should be more a possibility to get more on the petition side of these policies, let preoccupation with elections nearing, if you will. the kick start of the investment cycle, all of that cannot be turned on overnight. it takes a while before these type
to this aid. difficult steps need to be undertaken to right size gas prices and trim budget deficits, but ukraine should be given a long enough lease so that these necessary reforms don't strangle a nation today dealing with threats to its very existence. second cry me i can't. -- crimea. they have invaded and the very accord they signed guaranteeing crimea's territory. no doubt president putin was sore and no doubt he didn't like the fact that the united states voiced its strong support for the right of a sovereign ukraine to make independent decisions about its future partnerships and no doubt he is infuriated that the ukrainian people are now on their way to getting their way. but this is not a schoolyard. you don't get to push around weaker kids just because you don't like them. this is the 21st century. the reason we belong to organizations like the united nations or the reason we negotiate treaties like the budapest memorandum is because we now understand, after centuries of european war, how destabilizing this kind of behavior is. the irony for russia, of course, is that this
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